Business Context and Reporting Period
This Form 8-K Current Report was filed by NVIDIA Corporation on April 19, 2004. The filing discloses a change in the company's independent certifying accountants. The Audit Committee initiated a review process in March 2004 and decided to dismiss KPMG LLP effective April 20, 2004, replacing them with PricewaterhouseCoopers LLP (PwC) effective April 22, 2004, for the fiscal year ending January 30, 2005.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly procedural regarding the change of auditors.
Material Changes
- Accountant Change: KPMG LLP was dismissed as the independent accountant after serving for the two-year period ended January 25, 2004.
- New Engagement: PricewaterhouseCoopers LLP (PwC) was engaged to audit the fiscal year ending January 30, 2005.
- Audit History: KPMG's reports for the years ended January 25, 2004, and January 26, 2003, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles, except for a standard note regarding the adoption of SFAS No. 142 (Goodwill and Other Intangible Assets) effective January 28, 2002.
Guidance, Risks, and Management Commentary
- Disagreements: The company reported no disagreements with KPMG during the two most recently completed fiscal years or the subsequent interim period regarding accounting principles, financial statement disclosure, or auditing scope.
- Reportable Events: No "reportable events" as defined by Regulation S-K occurred during the relevant period preceding the dismissal.
- Consultation: Neither the registrant nor anyone on its behalf consulted PwC regarding accounting principles or audit opinions prior to the decision not to renew KPMG.
Key Facts for Investor Verification
- Verify the effective dates of the auditor transition: KPMG dismissal on April 20, 2004, and PwC engagement on April 22, 2004.
- Confirm that no undisclosed disagreements or reportable events existed between NVIDIA and KPMG during the tenure ending April 2004.
- Review the letter from KPMG (Exhibit 16.1) to ensure the former auditor agrees with the statements made in this filing.